CURRENT AFFAIRS

Detailed explanation-1: -The government had announced the scheme in February in state assembly and later the state cabinet had sanctioned a sum of ₹384 crore from Bihar Contingency Fund for the payment of the universal old age pension scheme for financial year 2019-20.

Detailed explanation-2: -IGNOAPS – Indira Gandhi National Old Age Pension Scheme The IGNOAPS is one such pension plan in India. It was introduced in 2007 by the Ministry of Rural Development, and it is popularly known as NSAP (National Social Assistance Programme).

Detailed explanation-3: -Mukhyamantri Vridhjan Pension Yojna: Mukhyamantri Vridhjan Pension Yojna- This is a state run old age pension scheme in which the beneficiary would get a monthly pension of Rs. 400 whereas the beneficiary whose age is 80 years and above would get a monthly pension of Rs. 500 .

Detailed explanation-4: -Indira Gandhi National Old Age Pension Scheme (IGNOAPS): This scheme provides pension to old people who are Below Poverty Limit. Individuals with age above 60 but below 80 receives Rs. 400.00 per month and people with age 80 and above receives Rs. 1,000.00 per month.